Authored By: Sarah
27 Jul 2021

Digital Oilfield Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025

The digital oilfield market is expected to grow by $ 5.00 bn, accelerating at a CAGR of almost 3.48% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Digital Oilfield Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years. 

  • Market is segmented Technology (Software, Services, and Hardware) and Geography (MEA, North America, Europe, APAC, and South America). 
  • 38% of the market growth will originate from MEA during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Digital Oilfield Market size. 

Digital Oilfield Market Size to Grow by $ 5.00 bn through 2021-2025 | Leading Segments and Market Trends

Digital Oilfield Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

  • Rise in rig count will be a significant factor in driving the growth of the Digital Oilfield Market.
  • Drilling activities in remote areas will be instrumental in driving the market growth during the forecast period.
  • Fluctuations in crude oil prices is a hurdle that needs to be crossed on the path to success.

Digital Oilfield Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • ABB Ltd., Emerson Electric Co., General Electric Co., Halliburton Co., Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, and Weatherford International Plc are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 3.48%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 5.00 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Rise in rig count will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    MEA, North America, Europe, APAC, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    38% growth will originate from MEA

     
  6. Who are the leading market vendors?
    The leading vendors in this market are ABB Ltd., Emerson Electric Co., General Electric Co., Halliburton Co., Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, and Weatherford International Plc

     
  7. What are the market segments covered in this report?
    The market is segmented by Technology (Software, Services, and Hardware) and Geography (MEA, North America, Europe, APAC, and South America)
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